CBRE Facilitates Sale Of 266-Unit Crestmont At Thornblade

Nov 08, 2018 11:42AM
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By Kathleen Maris

CBRE has facilitated the sale of Crestmont at
Thornblade, a 266-unit apartment community located at 75 Crestmont Way in
Greenville, less than one mile from Interstate 85 and 15 minutes from
downtown Greenville. Surrounded by wooded landscaping, the value-add
property is situated within one of Greenville’s most affluent neighborhoods.

“Due to geographic barriers, there is only limited
supply in the sought-after Thornblade submarket, which positions this property
as a prime value-add investment. In the past ten years, there haven’t been any
new multifamily developments in the submarket and no new units are under
construction or planned within a five-mile radius of the property,” said Kevin
Kempf, senior vice president at CBRE. “Crestmont at Thornblade is an ideal
candidate for a value-add program with proven premiums and upside remaining in
90 percent of the units.”

Built in 1998, Crestmont at Thornblade has an
expansive amenity package, which includes a resort-style swimming pool, two
lighted tennis courts, grilling area with picnic tables, playground, car care
center, and a fitness center with cardio and strength equipment. The community
is controlled access with private garages available.